The latest report by IMARC Group, titled “Neurotechnology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028“. The global neurotechnology market size reached US$ 10.23 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 20.06 Billion by 2028, exhibiting a growth rate (CAGR) of 11.71% during 2023-2028.

Neurotechnology refers to the advanced set of technologies specifically engineered to interact with or monitor the nervous system, including the brain and peripheral nerves. These technologies encompass a wide range of applications, from medical interventions like deep brain stimulation for treating Parkinson’s disease to wearable devices that monitor brain activity for improving mental health. The technology also includes neural interfaces, brain-computer interfaces, neuroprosthetics, and various software solutions aimed at decoding neural signals. As a result, neurotechnology finds extensive applications in healthcare settings, research laboratories, and consumer markets, offering innovative ways to diagnose, monitor, and treat numerous neurological conditions and enhance human cognition and machine interaction.

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Neurotechnology Market Trends and Drivers:

The global neurotechnology market is primarily driven by the rising prevalence of neurological disorders such as epilepsy, Alzheimer’s disease, and Parkinson’s disease, necessitating advanced diagnostic and therapeutic options. Additionally, hefty investments in research and development (RD) activities in neuroscience are fueling technological innovations, making treatments more effective and less invasive. In line with this, the increasing acceptance of wearable neurotechnology among consumers for applications like stress management and cognitive improvement represents another major growth-inducing factor. Furthermore, escalating regulatory support for new and advanced neurotechnology, coupled with heightened mental health awareness, is positively influencing the market growth. Besides this, the rise in the adoption of machine learning (ML) and artificial intelligence (AI) technologies to interpret complex neural data sets is paving the way for the next wave of innovations in the field, thus fostering market growth.

Report Segmentation: 

The report has segmented the market into the following categories:

Product Type Insights:

• Imaging Modalities 
  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
• Neurostimulation 
  • Transcranial Magnetic Stimulation (TMS)
  • Transcranial Direct Current Stimulation (TDCS)
• Cranial Surface Measurement 
  • Electroencephalography (EEG)
  • Magnetoencephalography (MEG)
• Neurological Implants

End User Insights:

• Hospitals
• Clinics
• Diagnostic Centres
• Ambulatory Surgical Centres

Regional Insights:

• North America (U.S. Canada)
• Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
• Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
• Latin America (Brazil, Mexico)
• Middle East Africa

Competitive Landscape With Key Players:

• Allengers Medical Systems Ltd
• Canon Medical Systems Corporation (Canon Inc.)
• Elekta Solutions AB
• GE HealthCare Technologies Inc. (General Electric)
• Koninklijke Philips N.V.
• Natus Medical Incorporated
• Shimadzu Corporation
• Siemens Healthcare GmbH (Siemens AG)
• The Magstim Company Limited
• Tristan Technologies Inc.

Explore Full Report with TOC: https://www.imarcgroup.com/neurotechnology-market

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